Pierangelo Garegnani: Policy Implications of the Critique of Political Economy
AbstractNotwithstanding his fundamental contribution to the critique of the neoclassical notion of capital, we maintain that Pierangelo Garegnaniâs research has been especially characterized by the reconstruction of an alternative approach to economics. Following Sraffaâs lead, Garegnani found such an alternative approach in the Classical theory of value and distribution, and put forward a Classical-Keynesian theory for output determination. In this approach, prices are not scarcity indexes, the absence of any spontaneous tendency to full employment abolishes optimality of market economies, income distribution results from social − not natural − forces. The policy implications of this approach are considered.
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Bibliographic InfoArticle provided by Associazione Rossi Doria in its journal QA.
Volume (Year): (2011)
Issue (Month): 4 (December)
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Pierangelo Garegnani; Piero Sraffa; Capital theory; Classical surplus approach; Effective demand;
Find related papers by JEL classification:
- B32 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Obituaries
- D30 - Microeconomics - - Distribution - - - General
- D46 - Microeconomics - - Market Structure and Pricing - - - Value Theory
- E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Institutional; Evolutionary
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Pierangelo Garegnani & Attilio Trezzini, 2010. "Cycles and Growth: A Source of Demand-Driven Endogenous Growth," Review of Political Economy, Taylor and Francis Journals, vol. 22(1), pages 119-125.
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